The deal builds on eBay's offerings in the trading cards category and brings even more selection to enthusiasts
SAN JOSE, Calif. and SYRACUSE, N.Y., Aug. 22, 2022 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, and TCGplayer, a trusted marketplace for collectible card game enthusiasts, today announced they have entered into an agreement for eBay to acquire TCGplayer.
Trading cards are an attractive category, which has seen substantial growth. TCGplayer is a leading technology platform for the collectibles industry, and will continue to operate autonomously as one of the largest online marketplaces for trading card games. This acquisition complements eBay's focus category strategy and furthers the company's commitment to trading card enthusiasts – providing eBay with strategic omnichannel capabilities like order fulfillment and cart optimization, maintaining its position as a desirable platform for trading card sellers, and enhancing the overall experience for all customers.
"eBay continues to build on our 26 years of experience in trading cards, powering local hobby stores and Main Street retailers to deliver an online destination that collectors love," said Dawn Block, VP of Collectibles at eBay. "eBay has always fueled our customers' passion in this space and facilitated connections between buyers and sellers, and with TCGplayer, we can enhance the customer experience across categories, forge even more relationships, and cater to enthusiasts around the world."
"This new chapter allows us to continue operating independently within eBay, while also benefiting from their decades of industry experience and resources to deepen the connection between hobbyists and their communities," said Chedy Hampson, Founder and CEO of TCGplayer. "With eBay's support, we will advance our Purpose, and expand our tools and services to improve the collecting experience online and in your favorite local hobby store."
TCGplayer has grown from its initial roots working with Syracuse-based hobby stores into an expansive ecommerce platform. The Company develops applications, inventory management tools and hardware like robotic sorting machines that are revolutionizing the collectibles industry, connecting thousands of hobby stores and online sellers with customers and collectors around the globe. TCGplayer has made strategic investments in its team, technology and products, and growing demand in a strong hobby collectible industry. Today, TCGplayer employs more than 600 team members, serving millions of hobbyist buyers, and tens of thousands of online sellers and brick-and-mortar retailers through the TCGplayer Marketplace and its Authentication Center.
Over the past two years, eBay has introduced significant products and enhancements that are important for buyers and sellers in the trading cards and collectibles category. With recent launches like eBay vault, the company is delivering a more seamless experience – offering benefits like instant transfer, authentication, insurance, affordable shipping and a tax-free storage location – and giving collectors peace of mind and unprecedented control over their assets.
eBay will acquire TCGplayer for a total deal value of up to approximately $295 million. The deal is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close in Q1 2023.
Evercore is acting as exclusive financial advisor and Cooley LLP is acting as legal counsel to TCGplayer in the transaction. Freshfields Bruckhaus Deringer LLP is acting as legal counsel to eBay.
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2021, eBay enabled over $87 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
TCGplayer is a leading technology platform for the collectibles industry. Founded as a digital media company specializing in trading card games within the collectibles space, TCGplayer has grown from its initial roots working with Syracuse-based hobby stores into an expansive ecommerce platform. The Company develops applications, data management tools and technologies like robotics automation that are beneficial to buyers and sellers in the collectibles industry, connecting thousands of hobby stores and online sellers with customers and collectors around the globe. A purpose-driven company, TCGplayer prides itself on creating a culture that fosters camaraderie, embraces diversity and exudes passion. It has been ranked among New York State's 50 best employers, Fortune.com's top 100 companies for women in the U.S. and certified a Great Place to Work by its employees. To learn more about TCGplayer visit https://careers.tcgplayer.com/.
Certain statements herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Such forward-looking statements are often identified by words such as "anticipate," "approximate," "believe," "commit," "continue," "could," "estimate," "expect," "hope," "intend," "may," "outlook," "plan," "project," "potential," "should," "would," "will" and other similar words or expressions. Such forward-looking statements reflect eBay's current expectations or beliefs concerning future events and actual events may differ materially from historical results or current expectations. The reader is cautioned not to place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of eBay. The forward-looking statements in this document address a variety of subjects including, for example, the potential benefits of the acquisition, including maintaining eBay's position in the trading cards category and enhancing the overall experience for customers. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the possibility that eBay may not fully realize the projected benefits of the acquisition and business disruption following the transaction. In addition, actual results are subject to other risks and uncertainties that relate more broadly to eBay's overall business, including those more fully described in eBay's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q. The forward-looking statements in this document speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.
SOURCE eBay Inc.